PVSL Popular Vehicles and Services Q3 FY26 results (Oct–Dec 2025) and concall
Popular Vehicles reported a strong Q3 FY26, with significant revenue and EBITDA growth driven by robust new vehicle volumes across PV and CV segments, benefiting from GST reforms and improved customer sentiment. However, gross profit margins saw a decline due to a shift in product mix towards lower-margin vehicles and a temporary dip in service volumes. The company is strategically expanding its OEM partnerships and digital presence, while managing inventory effectively and guiding for a return to FY24 PAT levels and 5% EBITDA margins by FY27.
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What they filed
Q3 FY26: revenue up 35.8%, net profit up 8.4% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 |
|---|---|---|---|---|---|---|
| Revenue | 763 | 645 | 588 | 536 | 707 −7% | 875 +36% |
| EBITDA | 22 | 4 | -5 | 4 | 17 −22% | 23 +436% |
| Net profit | 3 | -13 | -23 | -15 | -7 −316% | -12 +8% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
